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Friday, June 21, 2019

Options Regulatory Alert #2019 - 14
PHLX, NOM, BX, ISE, GEMX and MRX - Quarterly Quote Spread Parameter Relief through September 20, 2019

Category:

  • Regulatory

Markets Impacted:

Contact Information:

Resources:

Effective June 24, 2019, the market maker quarterly quote width requirements on Nasdaq PHLX (PHLX), The Nasdaq Options Market (NOM), Nasdaq BX (BX Options), Nasdaq ISE (ISE), Nasdaq GEMX (GEMX) and Nasdaq MRX (MRX) (“Nasdaq Options Exchanges”) will be effective through September 20, 2019. The Nasdaq Options Exchange may, in their discretion, amend these requirements by providing notice to members.

Please note there was a change from the previous month bid/ask differentials. BYND was added to each respective Valid Width Quote and intra-day quote spread reliefs.


Opening: The following option classes* will have double (2x) bid/ask differential opening Valid Width Quote parameter relief on the following Nasdaq options exchanges:

PHLX AZO, AMZN, BIO, BLK, BYND, CHE, CHTR, CMG, CSGP, EQIX, GOOG, GOOGL, ICPT, ISRG, LMT, MED, MELI, MTD, NOC, NTES, ORLY, REGN, ROP, SIVB, TDG, TLRY, TSLA and Y
ISE AZO, AMZN, BLK, BYND, CHE, CHTR, CMG, CSGP, EQIX, GOOG, GOOGL, ICPT, ISRG, LMT, MED, MELI, NOC, NTES, ORLY, REGN, ROP, SIVB, TDG, TLRY and TSLA
GEMX AZO, AMZN, BLK, BYND, CHE, CMG, EQIX, GOOG, GOOGL, ICPT, ISRG, LMT, MED, MELI, NOC, NTES, ORLY, REGN, ROP, SIVB, TDG, TLRY and TSLA
MRX AZO, AMZN, BLK, BYND, CHE, CHTR, CMG, CSGP, EQIX, GOOG, GOOGL, ICPT, ISRG, LMT, MED, MELI, NOC, NTES, ORLY, REGN, ROP, SIVB, TDG, TLRY and TSLA

Intra-day: The following option classes* will have $20.00 bid/ask differential intra-day quote width parameter relief on Nasdaq options’ exchanges:


PHLX AZO, AMZN, BIO, BLK, BYND, CHE, CHTR, CMG, CSGP, EQIX, GOOG, GOOGL, ICPT, ISRG, LMT, MED, MELI, MTD, NOC, NTES, ORLY, REGN, ROP, SIVB, TDG, TLRY, TSLA and Y
ISE AZO, AMZN, BLK, BYND, CHE, CHTR, CMG, CSGP, EQIX, GOOG, GOOGL, ICPT, ISRG, LMT, MED, MELI, NOC, NTES, ORLY, REGN, ROP, SIVB, TDG, TLRY and TSLA
GEMX AZO, AMZN, BLK, BYND, CHE, CMG, EQIX, GOOG, GOOGL, ICPT, ISRG, LMT, MED, MELI, NOC, NTES, ORLY, REGN, ROP, SIVB, TDG, TLRY and TSLA
MRX AZO, AMZN, BLK, BYND,, CHE, CHTR, CMG, CSGP, EQIX, GOOG, GOOGL, ICPT, ISRG, LMT, MED, MELI, NOC, NTES, ORLY, REGN, ROP, SIVB, TDG, TLRY and TSLA
NOM AZO, AMZN, BIO, BLK, BYND, CHE, CHTR, CMG, CSGP, EQIX, GOOG, GOOGL, ICPT, ISRG, LMT, MED, MELI, NOC, NTES, ORLY, REGN, ROP, SIVB, TDG, TLRY and TSLA
BX AZO, AMZN, BLK, BYND, CHTR, CMG, EQIX, GOOG, GOOGL, ICPT, ISRG, LMT, MED, MELI, NOC, NTES, ORLY, REGN, ROP, TDG, TLRY and TSLA

*Please note that an option series with an expiration of 9 months or greater does not have bid/ask differential requirements.

*Please note for all other option classes not listed herein, the following intra-day bid/ ask differentials shall apply, respectively: Phlx Rule 1014, NOM and BX Options Chapter VII, Section 8 and ISE, GEMX and MRX Rule 803.

*Please use the below link for the Phlx, NOM, BX Options, ISE, MRX and GEMX minimum quote size requirements: PHLX, NOM, BX Options, ISE, MRX and GEMX Minimum Quote Size Requirements

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